Deutsche Post (PC) (USOTC:DPSGY)
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3 Months : From Oct 2019 to Jan 2020
By Cristina Roca
Deutsche Post AG (DPW.XE) on Tuesday reported a jump in third-quarter earnings, and said all its divisions contributed to revenue growth.
The German freight-and-logistics group reported net profit of 561 million euros ($618.8 million) for the period, nearly three times higher than the EUR146 million result posted during the same period the year previous.
Revenue rose 4.7% to EUR15.55 billion, coming in higher than analysts' expectations of EUR15.46 billion, according to a FactSet estimate. Deutsche Post said all its divisions grew their revenue in the quarter.
"The international express business and the German parcel business saw especially dynamic growth as e-commerce continued to boom," the company said.
Earnings before interest and tax came to EUR942 million compared with EUR376 million the year prior and higher than analysts' expectations of EUR891 million, according to a FactSet estimate. The big year-on-year EBIT improvement was in part due to last year's result being hit by EUR392 million in one-off expenses, Deutsche Post said.
The company backed its 2019 outlook of EBIT of between EUR4 billion and EUR4.3 billion and said its German post and parcel division should contribute EUR1.1 billion-EUR1.3 billion to total EBIT for the year.
Deutsche Post also backed its 2020 outlook of EBIT of more than EUR5 billion, and its recently-set 2022 target of EBIT reaching at least EUR5.3 billion.
Write to Cristina Roca at email@example.com; @_cristinaroca
(END) Dow Jones Newswires
November 12, 2019 01:35 ET (06:35 GMT)
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